How To Have More Money (Part 5)

At this juncture, I think it would be useful to recapitulate what been covered thus far in this series on How To Have More Money. In summary, the first four strategies are:

1. To Spend Less Than What You Earn.

2. To Pay Yourself From Your Income.

3. To Defer Gratification of Your Cravings.

4. To Lead an Affordable Lifestyle and Do Not Over-pay What You Can Afford.

By observing strategies 1, 3 and 4 you will be in a strong position to keep paying yourself from the monies that you have earned. Or, you could make strategy 2 so compelling and urgent that you force yourself to change your spending habits, defer your urge for instant gratification and adjust your lifestyle or taste.

Thus, moving forward, if you are able to exercise financial discipline month after month and pay yourself $250 per month, you will be on target to save a $3,000 per annum and then some, after factoring-in interest thereof. 

Start even with a little if you cannot pay yourself much. If you can pay yourself the little that you have now, you can be sure that you would have developed the habit to pay yourself proportionately more with the much that is to come. 

Conversely, if you can't start paying yourself with the little and develop this discipline, I have my doubts that you would be able to pay yourself when you have the more. Do not despise the days of small beginnings; start paying yourself now.

The next strategy on how to have more money would be: To Time Your Purchase With Sales Promotion.

It is no microchip technology (time to ditch 'rocket science') to figure out that buying what you need and want during a sales promotion at discounts of 10% or more would put a smile on your face and lend credence to the paradox of buy-and-save. 

However, please, please do not go overboard and get lured to buy things in excess of what you need and want. Okay, okay, you could buy more of the things you would need on a recurring basis (e.g., toiletries and household essentials), but do not be tempted to buy more of your wants (e.g., a new pair of shoes or apparels when the existing ones will do) just because of the sales.

As before, the other strategies on How To Have More Money would still need to be observed. Incidentally, please be prepared for the crowd and the accompanying discomfort, including long queues at the check-out counters, which are quintessential of any sales promotion worthy of its buck-saving invitation.

Notes:

* Money is not the root of all evil. It is the love of money which is the root of all evil.

* Money is great servant but a terrible master.

* You can give without loving, but you can't love without giving.

* "Don’t wear yourself out trying to get rich; restrain yourself! Riches disappear in the blink of an eye; wealth sprouts wings and flies off into the wild blue yonder." (Proverbs 23:4-5; MSG)